Financial Data and Key Metrics Changes - LogicMark reported a 22% year-over-year revenue growth for Q2 2025, reaching $2.9 million, marking the strongest growth pace in recent years [4][14] - Gross profit for Q2 2025 was $1.9 million, up 24% compared to the same quarter last year, with gross margin improving by 99 basis points to 67.5% [14][15] - Net loss attributable to common shareholders for Q2 2025 was $2.1 million, unchanged from the same period last year, with a significant improvement in net loss per share due to a higher number of weighted average common shares outstanding [16][17] Business Line Data and Key Metrics Changes - Growth was driven by higher sales of the Freedom Alert Mini and the upgraded Guardian Alert 911 Plus units [14] - The company is focusing on expanding its product offerings to include predictive and preventive technology, enhancing its hardware and software ecosystem [11][12] Market Data and Key Metrics Changes - The caregiving market is experiencing significant growth, with an estimated 63 million Americans providing ongoing care, representing a 45% increase since 2015 [6][7] - LogicMark is positioned to serve the growing demand for personal safety solutions, particularly in the aging population segment [5][10] Company Strategy and Development Direction - LogicMark aims to deliver affordable, innovative personal safety solutions, focusing on technology that supports aging in place and peace of mind [5][12] - The company is investing in sales leadership and partner engagement to accelerate growth, particularly in the B2B sector [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand for their products, particularly from the VA, despite potential changes in government funding [26][28] - The company is optimistic about its strategic initiatives and believes that current efforts will generate meaningful and lasting value [12][31] Other Important Information - LogicMark completed a registered public offering resulting in gross proceeds of $14.4 million, strengthening its cash position [18] - The transition to the OTC market was completed in Q2 2025, allowing the company to focus more on business execution [12] Q&A Session Summary Question: Can you talk about your customer mix as you try to become a safety and security company for a broad range of demographics? - Management indicated that the company is still heavily skewed towards the government sector but is seeing growth in the B2B business, particularly in senior living and independent living categories [20][21][23] Question: How confident are you that there will be no change in your ongoing discussions with the VA that might impact the company? - Management acknowledged that while changes are expected within the VA, they have not seen a slowdown in demand for their products among aging veterans [25][26][28]

LOUISVILLE, Ky., Aug. 12, 2025 (GLOBE NEWSWIRE) -- LogicMark, Inc. (OTC: LGMK) (the Company), a provider of personal safety, personal emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced financial and operational results for the quarter ended June 30, 2025. Summary: Revenues were $2.9 million in the second quarter of 2025, an increase of 22% compared with the second quarter of 2024.Gross Profit in the second quarter of 202 ...

Core Insights - LogicMark, Inc. has appointed Jeffrey Durkin as Senior Vice President of Sales, effective June 23, 2025, to enhance its sales strategy in the care economy and personal safety market [1][2][3] Company Overview - LogicMark, Inc. specializes in personal emergency response systems (PERS), health communication devices, and technology aimed at the safety and care economy [1][4] - The company aims to empower individuals of all ages to live with dignity and independence through its Connected Care Platform [4] Leadership and Strategy - Jeffrey Durkin brings extensive experience in healthcare sales and care management technology, which aligns with LogicMark's strategic priorities [2][3] - The CEO of LogicMark emphasized that Durkin's hiring is a strategic move to expand the customer base and accelerate sales growth [3] Market Position and Growth Potential - LogicMark is positioned to lead in a rapidly expanding market due to increasing demand for technology that supports independent living and personal safety [3] - The company has a refreshed hardware and software solutions offering, an expanded intellectual property library, and a talented team, all of which provide a solid platform for growth [3] Distribution and Partnerships - LogicMark's PERS technologies are distributed through various channels, including the U.S. Veterans Health Administration and directly to consumers [5] - The company has secured a contract with the U.S. General Services Administration, allowing it to distribute products to federal, state, and local governments [5]

Core Viewpoint - LogicMark, Inc. has transitioned to trading on the OTC Markets following its delisting from Nasdaq due to non-compliance with the minimum bid price requirement of $1.00 [1][2] Group 1: Company Transition and Financial Position - The transition to OTC Markets allows LogicMark to maintain access to public capital while focusing on operational execution and long-term growth [2] - The company reported $15 million in cash and short-term investments at the end of the first quarter, which supports its strategic priorities [2] Group 2: Business Model and Offerings - LogicMark provides personal emergency response systems (PERS), health communication devices, and personal safety apps, aiming to create a Connected Care Platform [3][4] - The company is dedicated to building a 'Care Village' with proprietary technology and innovative solutions for the care economy [4] Group 3: Market Presence and Distribution - LogicMark's PERS technologies are sold through various channels, including the U.S. Veterans Health Administration and directly to consumers [4] - The company has secured a contract with the U.S. General Services Administration, enabling it to distribute products to federal, state, and local governments [4]

Part I: Financial Information [Item 1. Condensed Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Financial%20Statements%20(Unaudited)) The unaudited condensed financial statements for Q1 2025 reflect increased assets from a public offering, a wider net loss, and subsequent Nasdaq delisting concerns [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets%20-%20March%2031%2C%202025%20and%20December%2031%2C%202024) The balance sheet as of March 31, 2025, shows a significant increase in total assets and stockholders' equity, primarily driven by a public offering Condensed Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $8,990 | $3,807 | | Investments | $5,999 | $0 | | Total Current Assets | $16,486 | $5,337 | | Total Assets | $25,217 | $14,221 | | **Liabilities & Equity** | | | | Total Current Liabilities | $2,180 | $2,029 | | Total Liabilities | $2,203 | $2,029 | | Total Stockholders' Equity | $21,207 | $10,385 | [Condensed Statements of Operations](index=6&type=section&id=Condensed%20Statements%20of%20Operations%20-%20Three%20Months%20Ended%20March%2031%2C%202025%20and%202024) Q1 2025 saw a slight revenue decrease and a widened operating loss, leading to an increased net loss per share compared to Q1 2024 Q1 2025 vs. Q1 2024 Statement of Operations (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenues | $2,591.8 | $2,611.1 | | Gross Profit | $1,645.2 | $1,767.2 | | Total Operating Expenses | $4,009.3 | $3,572.9 | | Operating Loss | $(2,364.1) | $(1,805.7) | | Net Loss | $(2,191.0) | $(1,744.5) | | Net Loss Attributable to Common Stockholders | $(2,266.0) | $(1,819.5) | | Net Loss Per Share (Basic and Diluted) | $(0.12) | $(21.15) | [Condensed Statements of Cash Flows](index=9&type=section&id=Condensed%20Statements%20of%20Cash%20Flows%20for%20the%20Three%20Months%20Ended%20March%2031%2C%202025%20and%202024) Net cash used in operating activities increased in Q1 2025, but a significant public offering led to a substantial overall increase in cash and cash equivalents Q1 2025 vs. Q1 2024 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | $(1,651.7) | $(1,091.2) | | Net Cash Used in Investing Activities | $(6,168.4) | $(168.0) | | Net Cash Provided by (Used in) Financing Activities | $13,003.2 | $(91.6) | | **Net Increase (Decrease) in Cash** | **$5,183.1** | **$(1,350.7)** | | **Cash and Cash Equivalents - End of Period** | **$8,990.0** | **$5,047.4** | [Notes to Condensed Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) Notes to the financial statements detail the company's business, liquidity, and accounting policies, highlighting a recent public offering and subsequent Nasdaq delisting notice - The company provides personal emergency response systems (PERS) and related technology, sold direct-to-consumer, through retailers, and to the U.S. Veterans Health Administration (VHA)[20](index=20&type=chunk) - Despite a Q1 2025 net loss of $2.2 million, management believes its cash position of **$9.0 million** and **$6.0 million** in investments is sufficient to sustain operations for at least one year[21](index=21&type=chunk)[22](index=22&type=chunk) - In February 2025, the company completed a public offering, receiving gross proceeds of approximately **$14.4 million** from the sale of common stock, warrants, and pre-funded warrants[63](index=63&type=chunk)[65](index=65&type=chunk) - On May 2, 2025, Nasdaq notified the company of its determination to delist the common stock, citing public interest concerns under Listing Rule 5101 due to substantial shareholder dilution from the February 2025 offering[115](index=115&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion highlights a Q1 2025 revenue decline, decreased gross profit margin, increased operating expenses, and improved liquidity from a public offering, alongside a recent Nasdaq delisting notification - The company received a delisting notification from Nasdaq on May 2, 2025, due to public interest concerns regarding substantial shareholder dilution from the February 2025 offering. The company has responded and is appealing the decision[120](index=120&type=chunk)[121](index=121&type=chunk) Q1 2025 vs. Q1 2024 Performance | Metric | Q1 2025 | Q1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | $2,591,824 | $2,611,083 | (1)% | | Gross Profit | $1,645,227 | $1,767,218 | (7)% | | Gross Profit Margin | 63% | 68% | (5) p.p. | | Total Operating Expenses | $4,009,345 | $3,572,913 | 12% | - General and administrative costs increased by **$0.4 million (20%)** in Q1 2025 compared to Q1 2024, driven by higher consulting, investor relations, and legal fees[128](index=128&type=chunk)[133](index=133&type=chunk) - The company's liquidity position improved significantly with cash and cash equivalents of **$9.0 million** and investments of **$6.0 million** as of March 31, 2025, following a public offering that raised **$14.4 million** in gross proceeds[135](index=135&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is exempt from providing quantitative and qualitative disclosures about market risk - The company is a smaller reporting company and is not required to provide quantitative and qualitative disclosures about market risk[143](index=143&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective as of March 31, 2025[144](index=144&type=chunk) - No changes occurred during the quarter that materially affected or are reasonably likely to materially affect the company's internal control over financial reporting[145](index=145&type=chunk) Part II: Other Information [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings expected to have a material adverse effect on its business or financial condition - The company reports no pending legal proceedings that would have a material adverse effect on its business[148](index=148&type=chunk) [Item 1A. Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) The primary risk factor is the potential delisting of the company's common stock from Nasdaq due to non-compliance with minimum bid price and substantial shareholder dilution concerns - The company is not in compliance with Nasdaq Listing Rules and faces delisting[149](index=149&type=chunk) - On May 2, 2025, Nasdaq issued a delisting determination under its discretionary authority (Rule 5101), citing public interest concerns about substantial shareholder dilution from the February 2025 offering[151](index=151&type=chunk) - On March 20, 2025, Nasdaq notified the company of non-compliance with the Minimum Bid Price Requirement (Rule 5550(a)(2)). The company has appealed this notice[153](index=153&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company granted stock options and restricted common stock to employees, directors, and executives in January 2025 under the 2023 Stock Incentive Plan, relying on a Section 4(a)(2) exemption - On January 2, 2025, the company granted **93,000** stock options to employees and **26,668** to non-employee directors[156](index=156&type=chunk) - On January 2, 2025, the company granted **156,900** shares of restricted stock to executives and a consultant, vesting over four years[157](index=157&type=chunk) [Item 3. Defaults Upon Senior Securities](index=36&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) The company reports no defaults upon senior securities - The company reports no defaults upon senior securities[159](index=159&type=chunk) [Item 4. Mine Safety Disclosures](index=36&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - This item is not applicable to the company[160](index=160&type=chunk) [Item 5. Other Information](index=36&type=section&id=Item%205.%20Other%20Information) The company reports no other information for this item - The company reports no other information for this item[161](index=161&type=chunk) [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including documents related to the public offering and officer certifications - Exhibits filed include documents related to the February 2025 public offering, such as forms of Series C and D Warrants, the Securities Purchase Agreement, and the Placement Agency Agreement[162](index=162&type=chunk) - Certifications by the Principal Executive Officer and Principal Financial Officer pursuant to the Sarbanes-Oxley Act of 2002 are included as exhibits[162](index=162&type=chunk)

Core Viewpoint - LogicMark, Inc. has announced changes to its Board committee assignments to enhance its strategic direction and operational effectiveness in the care economy [1][2]. Board Committee Assignments - The Board consists of four independent non-executive directors and the CEO, totaling five directors [2]. - Carine Schneider has been appointed as Board Chair and remains on the Compensation Committee, bringing experience from B2B companies and capital markets [3]. - John Pettitt has been appointed Chair of the Nominating and Corporate Governance Committee while continuing on the Audit and Compensation Committees, with a background in technology and entrepreneurship [4]. - Robert Curtis has been named Chair of the Compensation Committee and continues on the Audit Committee, with over 30 years of experience in life sciences and strategic advisory roles [5]. - Barbara Gutierrez remains Chair of the Audit Committee and is the Board's designated financial expert, with extensive experience in leading IPOs and financing in healthcare and technology [6]. - Chia-Lin Simmons, the CEO, continues to lead daily operations and does not serve on Board committees, aligning with governance best practices [7]. Strategic Focus and Innovation - Carine Schneider emphasized the company's commitment to innovation, highlighting the strategic focus on AI and machine learning, and the launch of new solutions like the Freedom Alert Max and the Aster App [8]. - LogicMark holds a growing patent portfolio comprising 37 patents, with 23 issued and 17 filed since 2021, reflecting its dedication to technological advancement [8]. - The company aims to redefine customer experience and strengthen its position in the care economy, positioning itself for future growth in connected care [8]. Company Overview - LogicMark, Inc. is dedicated to enabling individuals to lead dignified and independent lives through its personal emergency response systems and health communication devices [9]. - The company is focused on building a 'Care Village' with proprietary technology and innovative solutions tailored for the care economy [10]. - LogicMark's products are distributed through various channels, including the U.S. Veterans Health Administration and a contract with the U.S. General Services Administration for government distribution [10].

Core Insights - LogicMark, Inc. has achieved a significant milestone with the approval of its Freedom Alert Max medical alert device for procurement through the U.S. General Services Administration (GSA), allowing agencies like the Veterans Administration to distribute it to communities [1][2] - The Freedom Alert Max enhances LogicMark's federal portfolio, joining the Freedom Alert Mini on a selective list of government-approved health technologies for aging adults [2] - LogicMark has been an approved vendor for the U.S. government for over 17 years, fostering strong relationships with key agencies such as the Veterans Health Administration [3] Product Features - The Freedom Alert Max is designed to provide 24/7 reassurance with monitored medical alert capabilities, integrating features like AI-powered fall detection, customizable geofencing, and cellular communication technology [4][7] - The device offers advanced mobile connectivity through 4G LTE, ensuring instant communication and includes emergency video capabilities for critical situations [7] - It also provides real-time caregiver alerts, unlimited non-emergency calls, and a pre-programmed connection to the Crisis and Suicide Lifeline for immediate mental health support [7] Market Position - LogicMark aims to empower individuals of all ages to live with dignity and independence, focusing on creating a Connected Care Platform through innovative personal safety devices and technologies [6] - The company is dedicated to building a 'Care Village' with proprietary technology, addressing the growing needs of the personal care and safety economy [6]

Financial Performance - For the fiscal year ended December 31, 2024, revenue was $9,901,987, a decrease of $27,642 or 0% compared to $9,929,629 in 2023[152]. - Gross profit for the year ended December 31, 2024, was $6,615,993, maintaining a gross profit margin of 67%, unchanged from 2023[153]. - For the fiscal year ended December 31, 2024, the company recorded an operating loss of $7.7 million and a net loss of $9.0 million, with cash and cash equivalents of $3.8 million as of the same date[169]. - The company generated $0.2 million of interest income from cash balances in both 2023 and 2024, while total other expenses increased significantly from $246,138 in 2023 to $(1,483,732) in 2024, reflecting a $1,729,870 change[165][167]. - The company had working capital of $3.3 million as of December 31, 2024, down from $6.0 million in 2023[169]. - Cash used in operating activities remained constant at $4.3 million for both fiscal years 2023 and 2024[171]. Operating Expenses - Total operating expenses decreased by $7,701,405 to $14,286,724 for the year ended December 31, 2024, compared to $21,988,129 in 2023[154]. - Direct operating costs increased by $196,162 or 17% to $1,338,758, primarily due to higher salaries and related expenses[156]. - Advertising costs surged by $287,074 or 106% to $557,783, driven by continued social media and web-based advertising efforts[157]. - Research and development expenses decreased by $424,063 or 43% to $558,621, reflecting reduced product development costs[159]. Capital and Financing - The company raised approximately $14.4 million in gross proceeds from a public offering on February 18, 2025[141]. - Gross proceeds from the issuance of common stock and warrants were $4.6 million in 2024, down from $5.2 million in 2023[173][174]. - The company expects to have sufficient capital to sustain operations for the next year following a February offering that generated $14.4 million in gross proceeds[170]. Stock and Compliance - As of March 27, 2025, holders of Series D Warrants exercised a portion of such warrants for an aggregate of 33,435,000 shares of Common Stock[144]. - The company received a notification from Nasdaq regarding non-compliance with the Minimum Bid Price Requirement due to a closing bid price below $1.00 per share[143]. - The company executed a 1-for-25 reverse stock split on November 18, 2024, consolidating every 25 shares into 1 share[146]. Strategic Focus and Challenges - The company is focused on expanding into the broader Care Economy and has invested in new verticals in consumer, pro-care/healthcare, and corporate benefits lines of business[176]. - The company has faced challenges due to the transition from 3G to 4G PERS units, impacting revenue growth[176]. - Inflationary trends may increase costs in fiscal year 2025, but the company has maintained profit margins through improved supply chain management and cost reduction programs[177]. Investment in Development - The company invested $1.4 million in product and software development in 2024, compared to $1.3 million in 2023[172].

Public Offering - LogicMark, Inc. announced a public offering consisting of 2,260,000 units and 22,146,750 pre-funded units, with gross proceeds expected to be approximately $14.4 million before fees and expenses [2][4] - Each unit is priced at $0.59 per share, with Series C warrants exercisable at $0.59 and Series D warrants at $0.885, subject to stockholder approval [3][4] - The net proceeds will be used for sales and marketing support, working capital, and general corporate purposes [2] Special Meeting of Stockholders - A Special Meeting of Stockholders is scheduled for March 24, 2025, to seek approval for a reverse stock split, issuance of 20% or more of shares in connection with the offering, and increasing the number of authorized shares [8] - Stockholders of record as of February 18, 2025, will be entitled to vote at the meeting [8] Company Overview - LogicMark, Inc. provides personal emergency response systems and health communication devices, focusing on the care economy [10][11] - The company aims to create a "Care Village" with proprietary technology and innovative solutions, leveraging IoT, AI, and machine learning [11]

Core Viewpoint - LogicMark, Inc. has announced a public offering of units and a special stockholder meeting scheduled for March 24, 2025, to seek approvals for various corporate actions [1][8]. Public Offering - The public offering consists of 2,260,000 units and 22,146,750 pre-funded units, with gross proceeds expected to be approximately $14.4 million before fees and expenses [2]. - Each unit is priced at $0.59 per share, and includes Series C and Series D warrants, which are exercisable upon stockholder approval [3]. - The offering is expected to close on February 18, 2025, subject to customary closing conditions [4]. Use of Proceeds - The net proceeds from the offering will be used for sales and marketing support of existing and new products, working capital, and general corporate purposes [2]. Special Meeting of Stockholders - The special meeting will address the approval of a reverse stock split, issuance of 20% or more of common stock in connection with the offering, and increasing the number of authorized shares [8]. - Stockholders of record as of February 18, 2025, will be entitled to vote at the meeting [8]. Regulatory Filings - The offering is conducted under the Company's registration statement on Form S-1, which was declared effective by the SEC on February 14, 2025 [5]. - A final prospectus will be filed with the SEC and will be available on their website [5][6]. Company Overview - LogicMark, Inc. provides personal emergency response systems and health communication devices, focusing on creating a Connected Care Platform [10][11]. - The company aims to enhance the quality of life for individuals through innovative technology solutions in the care economy [11].